scholarly journals The Contribution of Sustainable Tourism to Economic Growth and Employment in Pakistan

2019 ◽  
Vol 16 (19) ◽  
pp. 3785 ◽  
Author(s):  
Faiza Manzoor ◽  
Longbao Wei ◽  
Muhammad Asif ◽  
Muhammad Zia ul Haq ◽  
Hafiz ur Rehman
Keyword(s):  
Economic Growth ◽  
South Asian ◽  
Global Economy ◽  
Tourism Industry ◽  
Policy Implications ◽  
Future Research ◽  
Asian Countries ◽  
Long Run ◽  
Augmented Dickey Fuller ◽  
The Impact

In the global economy, tourism is one of the most noticeable and growing sectors. Thissector plays an important role in boosting a nation’s economy. An increase in tourism flow canbring positive economic outcomes to the nations, especially in gross domestic product (GDP) andemployment opportunities. In South Asian countries, the tourism industry is an engine ofeconomic development and GDP growth. This study investigates the impact of tourism onPakistan’s economic growth and employment. The period under study was from 1990 to 2015. Tocheck whether the variables under study were stationary, augmented Dickey–Fuller andPhillips–Perron unit root tests were applied. A regression technique and Johansen cointegrationapproach were employed for the analysis of data. The key finding of this study shows that there isa positive and significant impact of tourism on Pakistan’s economic growth as well as employmentsector and there is also a long‐run relationship among the variables under study. This studysuggests that legislators should focus on the policies with special emphasis on the promotion oftourism due to its great potential throughout the country. Policy implications of this recent studyand future research suggestions are also mentioned.

scholarly journals Environmental Degradation, Economic Growth and Non-renewable Energy in Selected South Asian Countries: Trivariate Analysis From DCCE-MG Approach

2021 ◽  
Author(s):  
Bosede Ngozi ADELEYE ◽  
Darlington AKAM ◽  
Nasiru INUWA ◽  
Henry Tumba JAMES ◽  
Denis BASILA ◽  
...  
Keyword(s):  
Economic Growth ◽  
Renewable Energy ◽  
South Asian ◽  
Environmental Degradation ◽  
Causal Relation ◽  
Policy Implications ◽  
Asian Countries ◽  
Causality Test ◽  
Country Level ◽  
The Impact

Abstract This study investigates and provides evidence on the impact of economic growth and non-renewable energy on environmental degradation. Using unbalanced panel data from 1990 to 2018 on five South Asian countries and engaging the dynamic common correlated effects-mean group (DCCE-MG) technique of Ditzen (2016, 2018), findings support the energy-led degradation hypothesis while the growth-led degradation hypothesis does not hold but both are supported from FMOLS and DOLS robustness checks. In order words, non-renewable energy and economic growth significantly drive environmental degradation. Country-level results are mixed with Nepal evidencing energy-led degradation, Pakistan shows growth-led degradation while India indicates growth-led sustainability. Supportively, the Dumitrescu-Hurlin (2012) non-Granger causality test establishes: (1) energy-led and growth-led degradation, (2) feedback causal relation between environmental degradation and non-renewable energy, and (3) unidirectional causality from growth to non-renewable energy i.e. “conservation” hypothesis. Policy implications are discussed.

Empirical Literature on Economic Growth, 1991–2020: Uncovering Extant Gaps and Avenues for Future Research

2021 ◽  
pp. 097491012110616
Author(s):  
Natalia I. Doré ◽  
Aurora A. C. Teixeira
Keyword(s):  
Economic Growth ◽  
Latin American ◽  
Empirical Studies ◽  
Empirical Literature ◽  
Future Research ◽  
Long Run ◽  
Scientific Attention ◽  
The Impact ◽  
Determinants Of Economic Growth ◽  
Latin American And Caribbean

The factors required to achieve sustainable economic growth in a country are debated for decades, and empirical research in this regard continues to grow. Given the relevance of the topic and the absence of a comprehensive, systematic literature review, we used bibliometric techniques to examine and document several aspects in the empirical literature related to growth, from 1991 to 2020. Five main results are worth highlighting: (a) the share of empirical articles on economic growth show a clear upward trend; (b) among all the groups of countries considered, the emerging economies (EEs) have received the most scientific attention; (c) the economic growth processes of the Latin American and Caribbean EEs have observed negligible scientific attention; (d) the very long-run studies comprise a residual share among the empirical literature on growth; (e) the extant empirical studies on economic growth have addressed mainly the impact of “macroeconomic conditions.” Our findings suggest there is a need to redirect the empirical growth agenda, so as to encourage more scientific attention devoted to the analysis of key determinants of economic growth in the very long run. There should also be increased scrutiny of the processes of economic growth in Latin American and Caribbean EEs

scholarly journals Banking Sector Development, Inflation and Economic Growth in Asian Countries: A Panel Causality and Co-Integration Approach

2018 ◽  
Vol 8 (4) ◽  
pp. 384
Author(s):  
Muhammad Imran Nazir ◽  
Rehana Tabassam ◽  
Ifran Khan ◽  
Muhammad Rizwan Nazir
Keyword(s):  
Economic Growth ◽  
Banking Sector ◽  
Vital Role ◽  
Least Square ◽  
Policy Implications ◽  
Asian Countries ◽  
Ordinary Least Square ◽  
Long Run ◽  
Banking Sector Development ◽  
Integration Test

This study investigates the causal relationship between banking sector development, inflation, and economic growth for six Asian countries (Bangladesh, China, India, Malaysia, Pakistan and Sri Lanka) over the period of 1970-2016. Using a Pedroni panel, Kao co-integration test, Panel Granger causality-based Error Correction Model, Dynamic ordinary least square (DOLS), and Fully modified ordinary least square (FMOLS), this study finds that the development of the banking sector generally has a positive relationship with economic growth in the long-run. This results show that in the long-run, monetary policy play a vital role in the economic growth. This study also confirmed the response causality between the indicators of banking sector development and economic growth. Based on the empirical findings, this research provides important policy implications to the banking sector and economic supervisory bodies in order to achieve the long run economic growth.

scholarly journals Influence of Tourism on Economic Development in Asian Countries

2020 ◽  
Vol 5 (2) ◽  
pp. 207-216
Author(s):  
Wen-Chuan FU ◽  
◽  
Chia-Jui PENG ◽  
Tzu-Yi YANG ◽  
◽  
...  
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Global Economy ◽  
Tourism Industry ◽  
Asian Countries ◽  
Cross Sectional ◽  
Rate Fluctuation ◽  
National Economic ◽  
International Entry ◽  
The Relationship

Although the tourism industry has recorded the lowest pollution, it significantly contributes to the global economy. Therefore, many countries have spent great efforts in promoting their tourism industry to support their entire economic development. This article considers factors related to the relationship between national economic growth and international entry tourism for 11 Asian countries to investigate the existence of the cross-sectional difference between these countries. Results show that exchange rate fluctuation is an alternative factor affecting economic growth risk, and common slope exists between countries. Moreover, international entry tourist headcount and income show differential slope in some countries, implying that these factors affect the economies of different Asian countries differently.

The Impact of Social Network on Italian Users' Behavioural Intention for the Choice of a Medical Tourist Destination

2017 ◽  
Vol 1 (1) ◽  
pp. 36-49 ◽  
Author(s):  
Francesca Di Virgilio ◽  
Angelo A. Camillo ◽  
Isabell C. Camillo
Keyword(s):  
Social Network ◽  
Global Economy ◽  
Medical Tourism ◽  
Tourism Industry ◽  
Future Research ◽  
Tourist Destination ◽  
Efficient Information ◽  
The One ◽  
The Impact ◽  
Medical Tourist

Tourism represents one of the most important industries in the global economy. Medical tourism is not a new phenomenon: mankind has traveled to foreign lands to access treatment for many years. Current research in information and communication technology considerably affects the tourism industry by providing innovative tools capable, on the one hand, of supporting tourists in organizing their holidays and, on the other, of supplying fast and efficient information on tourist destination. Published literature shows that many aspects of medical tourists' behavior are under-researched. One of these aspects is the impact of social media on tourists' behavior for the choice of tourist medical destination, which is the original focus of this research. This paper explores how a social network can become a strategic platform using eWOM (electronic Word of Mouth) as a tool for disseminating fast and detailed information for the choice of medical tourist destination. A survey instrument was used to collect information from Italian active users of a social network: Facebook. Data was solicited from 960 active, experienced users. The findings support the development of medical tourism communication strategies focused on the online contexts as factors capable of influencing medical tourists' behavior in a more efficient way. Implications and future research directions are discussed.

Investigating the Role of Regional Economic Integration on Growth: Fresh Insights from South Asia

2020 ◽  
pp. 097491012097480
Author(s):  
Muhammad Ibrahim Shah
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
South Asia ◽  
South Asian ◽  
Economic Integration ◽  
Regional Integration ◽  
Policy Implications ◽  
Regional Economic Integration ◽  
Asian Countries ◽  
Regional Economic

Regional economic integration is the key to achieving prosperity and stability. However, intra-regional trade in South Asia accounts for not more than 5%–6% of their total trade. This study aims to examine the role played by regional economic integration in determining the economic growth of South Asian countries over the period 1980–2015. Since shocks in one country may affect another country in the region, this is taken into account in the article by employing methodologies that are robust to cross sectional dependence. Specifically, continuously-updated and bias-corrected (CupBC) of Bai et al. (2009) and Dumitrescu–Hurlin panel causality test (2012) have been employed to estimate long-run coefficients and determine the direction of relationship among the variables, respectively. The findings suggest that economic integration increases economic growth significantly in this region. However, contrary to popular belief, both democracy and human capital are negatively related to economic growth. Bidirectional causality is found between economic integration and democracy, regional integration and human capital, democracy and human capital and, democracy and labor. This study also presents several policy implications for South Asian countries.

The impact of telecommunication revenue on economic growth: evidence from Ghana

2014 ◽  
Vol 5 (2) ◽  
pp. 195-208 ◽  
Author(s):  
Francis Atsu ◽  
Charles Agyei ◽  
William Phanuel Darbi ◽  
Sussana Adjei-Mensah
Keyword(s):  
Economic Growth ◽  
Unit Root Test ◽  
Policy Makers ◽  
Correction Model ◽  
Content Type ◽  
Long Run ◽  
Telecommunication Infrastructure ◽  
Augmented Dickey Fuller ◽  
The Impact ◽  
Practical Implications

Purpose – The purpose of this paper is to investigate the long-run impact of telecommunications revenue and telecommunications investment on economic growth of Ghana for the time horizon 1976-2007. Design/methodology/approach – The paper uses the Augmented Dickey Fuller and Phillips Perron unit root test to explore the stationarity property of the variables and the Engle-Granger residual-based test of cointegration to model an appropriate restricted error correction model. Findings – The outcome of the analysis produced mixed results. Telecommunications revenue does not contribute significantly whilst telecommunications investment does. Practical implications – Policy makers will have to deal with a conundrum; while designing targeted policies that will attract more telecommunication investment in order to maximize the corresponding revenues and the economic growth it brings in its wake, they must at the same time find ways and resources to grow the economy to a point or threshold where revenue from telecommunications can have the much needed impact on their economies. Originality/value – The study is one of the first that has investigated the line of causality between telecommunication revenue and economic growth unlike previous research that mainly focused on the impact of telecommunication infrastructure on economic development.

The short-run and long-run dynamics among FDI, trade openness and economic growth: using a bootstrap ARDL test for co-integration in selected South Asian countries

2020 ◽  
Vol 9 (2) ◽  
pp. 279-295 ◽  
Author(s):  
Hummera Saleem ◽  
Malik Shahzad Shabbir ◽  
Muhammad Bilal khan
Keyword(s):  
Economic Growth ◽  
Sri Lanka ◽  
Causal Relationship ◽  
South Asian ◽  
Trade Openness ◽  
Asian Countries ◽  
Content Type ◽  
Long Run ◽  
Short Run ◽  
Auto Regressive

PurposeThe purpose of this study is to analyze the dynamic causal relationship between foreign direct investment (FDI), gross domestic product (GDP) and trade openness (TO) on a set of five selected South Asian countries.Design/methodology/approachThis study used newly developed bootstrap auto regressive distributed lags (ARDL) cointegration test to examine the long-run relationship among FDI, GDP and TO for selected South Asian countries for 1975–2016.FindingsThe economic growth (EG) is significantly related to TO for Bangladesh, India and Sri Lanka and the expansion of TO is crucial for growth in these countries. The results show that all countries (except Bangladesh) found the existence of long-run cointegration between FDI, GDP and TO, whereas FDI is a dependent variable. These results concluded that FDI and TO are contributing to EG in these selected countries.Originality/valueThis study is one of the first attempts to investigate the causal relationship and address the short and long dynamic among FDI, GDP and TO regarding five south Asian countries such as Bangladesh, India, Nepal, Pakistan and Sri Lanka.

scholarly journals DOES FINANCIAL DEVELOPMENT HAMPER ECONOMIC GROWTH: EMPIRICAL EVIDENCE FROM BANGLADESH

2012 ◽  
Vol 14 (3) ◽  
pp. 558-582 ◽  
Author(s):  
Qazi Muhammad Adnan Hye ◽  
Faridul Islam
Keyword(s):  
Economic Growth ◽  
Financial Development ◽  
Principal Component ◽  
Distributed Lag ◽  
Window Method ◽  
Long Run ◽  
Rolling Window ◽  
Augmented Dickey Fuller ◽  
The Stability ◽  
The Impact

The objective of this study is twofold. (a) Construct the first ever financial development index (FDI) for Bangladesh using the principal component method (PCM). (b) Use the FDI to explore the existence of a long run relationship between FDI and economic growth. The Augmented Dickey Fuller and the Ng-Perron unit root tests have been applied to examine the stationarity properties of the series. To explore a long run relation, the Autoregressive Distributed Lag (ARDL) approach to cointegration; and to assess the stability of the parameters, the rolling window regression approach have been used. The results show that the impact of real interest rate (RIR) and FDI on economic growth is negative. Estimates from rolling window method show that FDI and RIR are negatively related to economic growth for the years 1987–1988, 1992–1999, 2002–2006, 2008 and 2009; and 1986–1998, 2006 and 2007, respectively. The results may help policymakers formulate effective financial sector policies as a tool to promote economic growth in Bangladesh.

scholarly journals Export Earnings, Capital Instability and Economic Growth in South Asia

2003 ◽  
Vol 8 (1) ◽  
pp. 65-89
Author(s):  
Muhammad Aslam Chaudhary ◽  
Amjad Naveed
Keyword(s):  
Economic Growth ◽  
South Asian ◽  
Foreign Capital ◽  
Developed Countries ◽  
Export Diversification ◽  
Asian Countries ◽  
The Impact ◽  
The Relationship

During the last two decades the role of international trade and flow of foreign capital have received considerable attention in the literature. Various studies have examined the impact of export instability and capital instability on economic growth in less developed countries.1 Empirical evidence supports the hypothesis of a deleterious impact of export instability on economic growth. However, some studies also indicated that the relationship was unstable but positive with economic growth.2 Yet there are no systematic empirical investigations into the implied links between export diversification and long-term economic growth, particularly in the case of South Asian countries. The major concern regarding export instability is that it retards economic growth.

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